GoGold Intersects 8.8m of 670 g/t Silver Equivalent at Los Ricos North
GoGold Intersects 8.8m of 670 g/t Silver
Equivalent at Los Ricos North
Shares Outstanding: 225,817,366
Trading Symbols: TSX: GGD
OTCQX: GLGDF
HALIFAX, NS
,
Aug. 20, 2020
/CNW/ -
GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF)
("GoGold", "the Company")
is pleased to release the assay results from an additional 6 holes
drilled at the Company's La Trini silver-gold deposit on the Los Ricos North project.
Hole LRGT-20-004 was drilled on the La Trini deposit and intersected a silicified and altered quartz
rhyolite unit from 7.3 to
36.7m
for
29.4m
of 254 g/t silver equivalent ("AgEq"), consisting of 122 g/t
silver and 1.77 g/t gold. The intersect included
8.8m
of 670 g/t AgEq, which was made up of 286 g/t
silver and 5.11 g/t gold.
"At the La Trini target we've completed some short holes which have confirmed high grade silver and
gold mineralization at surface. We will focus the drilling program this fall to confirm and expand on
historical drilling and rapidly move towards defining the mineral resource of this deposit through grid
drilling," said
Brad Langille
, President and CEO.
Holes LRGT-20-005, LRGT-20-007, LRGT-20-008, LRGT-20-009 were all collared on the
mineralization. LRGT-20-005 intersected
28.4m
of 183 g/t AgEq, consisting of 103 g/t silver and
1.07 g/t gold, including
11.4m
of 332 g/t AgEq.
Currently the Company has 3 drill rigs operating at Los Ricos North, with the initial focus on the La
Trini, Mololoa and Solomon targets. Detailed intersections are listed in Table 1 and the hole
locations are shown in Table 2.
A drill plan map of the La Trini drill holes showing basic geology and the outcrop of the mineralized
zone is available at
https://gogoldresources.com/images/uploads/files/2020_08_20_La_Trini_Plan.pdf
La Trini drill plan map (CNW Group/GoGold Resources Inc.)
Table 1: Drill Hole Intersections
Hole ID
Area
From
To
Length
1
Au
Ag
AuEq
2
AgEq
2
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
(g/t)
LRGT-20-004
La Trini
7.3
36.7
29.4
1.77
121.7
3.39
254.1
including
12.2
21.0
8.8
5.11
286.3
8.93
669.7
LRGT-20-005
La Trini
2.7
31.0
28.4
1.07
103.4
2.45
183.4
including
6.1
17.5
11.4
2.27
161.9
4.43
332.3
LRGT-20-006
La Trini
23.4
44.0
20.7
0.16
58.0
1.81
70.3
including
26.1
36.0
9.9
0.18
49.2
2.57
62.8
and
50.5
70.4
19.9
0.12
9.6
0.57
18.7
LRGT-20-007
La Trini
0.0
25.2
25.2
0.25
94.5
1.51
113.5
including
0.0
10.8
10.8
0.35
146.3
2.30
172.7
and
35.0
54.0
19.0
0.01
30.6
0.41
31.0
LRGT-20-008
La Trini
0.0
32.2
32.2
0.62
78.9
1.68
125.8
including
1.5
16.0
14.5
1.17
118.9
2.75
206.6
LRGT-20-009
La Trini
0.0
15.7
15.7
0.38
85.0
1.52
113.9
including
10.0
13.8
3.8
0.30
150.1
2.30
172.8
1.
Not true width
2.
AuEq and AqEq converted using a silver to gold ratio of 75:1
Table 2: Drill Hole Locations
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Length
LRGT-20-004
582955
2339625
908
180
-60
81.0
LRGT-20-005
582939
2339621
898
0
-90
74.5
LRGT-20-006
583104
2339581
924
180
-60
108.0
LRGT-20-007
583050
2339538
903
180
-65
54.0
LRGT-20-008
583025
2339548
902
180
-65
63.0
LRGT-20-009
582950
2339588
917
180
-65
51.0
Los Ricos District Exploration Projects
The Company's two exploration projects at its Los Ricos property are in
Jalisco
state, Mexico. The
Los Ricos South Project began in
March 2019
and includes the 'Main' area, which is focused on
drilling around a number of historical mines including
El Abra
, El Troce,
San Juan
, and Rascadero,
as well as the
Cerro Colorado
, Las Lamas and East Vein targets. An initial resource on the Los
Ricos South project was announced on
July 29, 2020
and indicated a Measured & Indicated Mineral
Resource of 63.7 million ounces AgEq grading 199 g/t AgEq contained in 10.0 million tonnes, and an
Inferred Resource of 19.9 million ounces AgEq grading 190 g/t AgEq contained in 3.3 million tonnes.
The Los Ricos North Project was launched in
March 2020
and includes drilling at the Monte del
Favor, Salomon, La Trini, and Mololoa targets.
Procedure, Quality Assurance / Quality Control and Data Verification
The diamond drill core (HQ size) is geologically logged, photographed and marked for sampling.
When the sample lengths are determined, the full core is sawn with a diamond blade core saw with
one half of the core being bagged and tagged for assay. The remaining half portion is returned to
the core trays for storage and/or for metallurgical test work.
The sealed and tagged sample bags are transported to the ActLabs facility in
Zacatecas, Mexico
.
ActLabs crushes the samples and prepares 200-300 gram pulp samples with ninety percent passing
Tyler 150 mesh (106μm). The pulps are assayed for gold using a 50-gram charge by fire assay
(Code 1A2-50) and over limits greater than 10 grams per tonne are re-assayed using a gravimetric
finish (Code 1A3-50). Silver and multi-element analysis is completed using total digestion (Code 1F2
Total Digestion ICP). Over limits greater than 100 grams per tonne silver are re-assayed using a
gravimetric finish (Code 8-Ag FA-GRAV Ag).
Quality assurance and quality control ("QA/QC") procedures monitor the chain-of-custody of the
samples and includes the systematic insertion and monitoring of appropriate reference materials
(certified standards, blanks and duplicates) into the sample strings. The results of the assaying of
the QA/QC material included in each batch are tracked to ensure the integrity of the assay data. All
results stated in this announcement have passed GoGold's QA/QC protocols.
Mr.
David Duncan
, P. Geo. is the qualified person as defined by National Instrument 43-101 and is
responsible for the technical information of this release.
About GoGold Resources
GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on
operating, developing, exploring and acquiring high quality projects in Mexico. The Company
operates the Parral Tailings mine in the
state of Chihuahua
and has the Los Ricos South and Los
Ricos North exploration projects in the state of
Jalisco
. Headquartered in
Halifax, NS
, GoGold is
building a portfolio of low cost, high margin projects. For more information visit
gogoldresources.com
.
CAUTIONARY STATEMENT:
The securities described herein have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and
may not be offered or sold within
the United States
or to, or for the benefit of, U.S. persons (as
defined in Regulation S under the U.S. Securities Act) except in compliance with the registration
requirements of the U.S. Securities Act and applicable state securities laws or pursuant to
exemptions therefrom. This release does not constitute an offer to sell or a solicitation of an offer to
buy of any of GoGold's securities in
the United States
.
This news release may contain "forward-looking information" as defined in applicable Canadian
securities legislation. All statements other than statements of historical fact, included in this release,
including, without limitation, statements regarding the Parral tailings project, the Los Ricos South and
North projects, future operating margins, future production and processing, and future plans and
objectives of GoGold, constitute forward looking information that involve various risks and
uncertainties. Forward-looking information is based on a number of factors and assumptions which
have been used to develop such information but which may prove to be incorrect, including, but not
limited to, assumptions in connection with the continuance of GoGold and its subsidiaries as a going
concern, general economic and market conditions, mineral prices, the accuracy of mineral resource
estimates, and the performance of the Parral project There can be no assurance that such
information will prove to be accurate and actual results and future events could differ materially from
those anticipated in such forward-looking information.
Important factors that could cause actual results to differ materially from GoGold's expectations
include exploration and development risks associated with GoGold's projects, the failure to establish
estimated mineral resources or mineral reserves, volatility of commodity prices, variations of
recovery rates, and global economic conditions. For additional information with respect to risk
factors applicable to GoGold, reference should be made to GoGold's continuous disclosure
materials filed from time to time with securities regulators, including, but not limited to, GoGold's
Annual Information Form. The forward-looking information contained in this release is made as of the
date of this release.
SOURCE
GoGold Resources Inc.
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For further information:
Steve Low, Corporate Development, GoGold Resources, T: 416 855
0435, E: [email protected]
CO: GoGold Resources Inc.
CNW 08:00e 20-AUG-20